SKF informed of initiation of lawsuit pertaining to settlement with the European Commission

Gothenburg, 9 March 2016: SKF has been informed of the initiation of a lawsuit,
with a claim for damages, by Peugeot S.A., and several group companies, (PSA)
against bearing manufacturers, including AB SKF, that were part of the
settlement decision by the European Commission for violation of European
competition rules.

PSA has filed the lawsuit with the Competition Appeal Tribunal in the United
Kingdom. SKF has not, at this stage, received definitive information about the
size of damages claimed nor the timetable of the process initiated in the
Tribunal.

The amount of damages, if any, should SKF be found liable, is at this stage not
possible to determine.

The decision by the European Commission in March 2014 covered violations of
European competition rules with respect to sales of bearings to the automotive
manufacturing industry in Europe. SKF was one of six bearing manufacturers
involved in the investigation.

The settlement decision made no finding that SKF’s top management had
involvement in, or knowledge of, the conduct at issue. Furthermore, SKF strongly
believes that the activities sanctioned by the European Commission have not
caused any damage to its business partners.

Aktiebolaget SKF
      (publ)

AB SKF is required to disclose the information provided herein pursuant to the
Securities Markets Act and/or the Financial Instruments Trading Act. The
information was submitted for publication at 17:45 on 9 March 2016.
For further information, please contact:
PRESS: Theo Kjellberg, Director, Press Relations
tel: 46 31 337 6576, mobile: 46 725-776576, e-mail: theo.kjellberg@skf.com

INVESTOR RELATIONS: Patrik Stenberg, Head of Investor Relations
Patrik Stenberg, 46 31-337 2104; 46 705-472 104; patrik.stenberg@skf.com
SKF is a leading global supplier of bearings, seals, mechatronics, lubrication
systems, and services which include technical support, maintenance and
reliability services, engineering consulting and training. SKF is represented in
more than 130 countries and has around 17,000 distributor locations worldwide.
Annual sales in 2015 were SEK 75 997 million and the number of employees was 46
635. www.skf.com

® SKF is a registered trademark of the SKF Group.